Introduction

AEM rose another 76% over 3 trading days since “AEM Holdings (AWX) Revisited” was published last weekend. In aggregate, AEM has risen 364% in 4 months since the first article, “My Bull Case For AEM Holdings (AWX)“, was posted.

At S$2.57 per share, AEM has a market cap S$167m. With a ttm P/E of 19.5x, does AEM have further upside? Let’s find out…

 

What has transpired this week?

  • Q1FY17 results released and exceeded my expectations
  • Management provided a revenue and profit before tax (PBT) guidance for 9M17 of S$142m and S$17.5m respectively.
  • Maybank Kim Eng wrote a non-rated report
  • CIMB raised target price from S$1.79 to S$3.39 (+32% upside from current price)
  • Share price rose 76% in 3 days
  • AGM held on 27 April

 

Revised Back-of-the-envelop FY2017 NPAT,EPS, and Dividend Per Share Forecast

From the latest profit guidance …